Paradigm Asset Management Co. LLC Purchases Shares of 300 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Paradigm Asset Management Co. LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 300 shares of the bank’s stock, valued at approximately $634,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Financial Life Planners acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management raised its position in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Mather Group LLC. boosted its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Asset Planning Inc purchased a new position in First Citizens BancShares during the 4th quarter worth $38,000. Finally, Brooklyn Investment Group acquired a new position in First Citizens BancShares in the third quarter valued at $39,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of a number of research reports. Barclays raised their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, Truist Financial increased their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Trading Down 3.2 %

Shares of FCNCA stock opened at $2,049.25 on Friday. The company has a market capitalization of $28.67 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.96 and a beta of 0.85. First Citizens BancShares, Inc. has a twelve month low of $1,500.94 and a twelve month high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a 50-day moving average price of $2,145.78 and a 200 day moving average price of $2,069.58.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.38%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.